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China calls for close cooperation on global financial crisis
Beijing (AFP) Oct 7, 2008 China called Tuesday on all nations to work together to address the financial crisis but made no firm commitments on how it might contribute other than by growing its own economy. "The financial crisis that we face is not only the problem of one country but a global issue that impacts all regions and all countries," foreign ministry spokesman Qin Gang told journalists. "More than one country is required to deal with challenges like this crisis. The international community must join hands to handle this crisis." China would seek to maintain relatively fast-paced growth, while also ensuring its financial and capital markets were stable, he said. "This in itself is a form of contribution" to stemming the ongoing global crisis, Qin said. China was looking favorably on a South Korean proposal for a meeting of financial ministers from China, Japan and South Korea to address jointly financial disturbances, he said. "Under the current circumstances, China, Japan, and South Korea, as the three major economies in East Asia, should maintain close communication and coordination," Qin said. No such meeting has yet been agreed upon but China was willing to discuss it further, he added. Community Email This Article Comment On This Article Related Links The Economy
Walker's World: Europe fails to act
Washington (UPI) Oct 6, 2008 Leaders of the four big European economies -- Germany, Britain, France and Italy -- met in Paris Saturday and failed to come up with any kind of common European solution to the financial crisis that is battering their banks. |
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